The average number of new mortgage loans nationwide in the first quarter was 322 (approximately 26.83 years), once again setting a record for the longest period of time in history. (Photo by reporter Xu Yiping)
[Reporter Xu Yiping/Reported from Taipei] Banks' independent mortgage interest rates have soared, and the mortgage period has lengthened, making mortgage loan owners increasingly burdened. According to the latest release from the real estate information platform of the Ministry of Interior, the average number of new mortgage loans nationwide in the first quarter was 322 (approximately 26.83 years), once again setting a record for the longest period of time in history.
Zeng Jingde, project manager of the Xinyi Housing Real Estate Enterprise Research Office, said that after housing prices rose, people reduced their repayment burden by extending the mortgage repayment period. Although the total interest was higher, the monthly burden was lower. This approach made the burden lighter during the low-interest era, but after interest rates rose, the cost of capital was much higher.
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Real estate industry players pointed out that according to the latest statistics from the Ministry of Interior, there were 52,000 divorced couples nationwide last year, and more than half of them were married for less than nine years. Compared with a person's life, in addition to working years, for those who have mortgage loans, mortgage loans are almost the longest companion, even longer than the marriage age of some people.
Hsinchu has the longest mortgage repayment period
Further observation of the statistics on the number of new mortgage periods in Liudu and Hsinchu counties and cities shows that Taipei City, Taoyuan City, Tainan City and Hsinchu City all set a new high since statistics were collected in the first quarter of 2008. Compared with the longest average repayment period in the country, 322 periods, the seven metropolitan areas Among the districts, only Taipei City has 315 phases, which is lower than the national average. On the other hand, Hsinchu County and City both have more than 340 phases, with 341 and 343 phases respectively, which are 19 (about 1.58 years) and 21 (about 1.75 years) more than the national average.
He Shichang, CEO of Xinchuan Real Estate Think Tank, pointed out that due to high housing prices, the impact of 40-year mortgages released after Qing'an 2.0, and the increase in the number of people saving stocks to earn interest differentials, many factors have made mortgage terms longer and longer. However, borrowing for a longer time does not mean that it will take longer to repay. The average time it takes for Chinese people to pay off their mortgages is about ten years. This may be because they have saved enough money to pay off their loans early, or they may be selling the original house after changing the house, and the buyer will pay off the loan on his behalf. Looking forward to the fourth quarter, it is inevitable that the central bank will raise interest rates. In addition, most banks will raise mortgage interest rates, and the total repayment burden of mortgage borrowers will continue to increase.
Huang Shuwei, director of Colliers International Real Estate Owner Representative Services Department, said that compared with the double-digit interest rates of the last century, today's borrowers have lost the pressure to rush to repay. The repayment period is like a general consumer loan, which is a compromise after measuring the ratio of income and debt. Only Taipei City, where housing is older, has high housing prices and a late entry age for home buyers, so it lacks the conditions to adjust the period to reduce the burden. Therefore, the phenomenon of population outflow is becoming more and more obvious. Relatively speaking, heavy economic and life pressure often leads to one of the reasons for not getting married and having children, and delaying marriage and having children. Therefore, the government's vigorous promotion of various marriage and childbearing subsidy policies is also the reason.
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